Greenlight Planet raises €1.8 million to bring solar energy to half a million people

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Greenlight Planet, an off-grid solar products firm has successfully closed a €1.8 million transaction for the first time from individuals crowdfunding.

Trine connected 1 822 investors with Greenlight Planet to fully fund the €1.8 million loan. To date, this is the largest single transaction that has been funded through Trine’s platform. It is also the first loan targeted towards the rapidly growing solar market in India.

The €1.8 million loan is aimed at supporting Greenlight Planet’s growth in India, and is anticipated to provide 560 000 people with electricity while reducing an estimated 128 000 tons of CO2 emissions as fossil fuels can be replaced with solar energy.

“Greenlight Planet is a pioneer in off-grid electrification and a success story as one of the few players in the industry that is profitable. The huge potential of the Indian market, in combination with high impact, makes this investment particularly interesting. We are happy that the first step of our collaboration with Greenlight Planet is a success and we look forward to developing this partnership further,” said Viktor Andersson, Debt Portfolio Manager of Trine.

The strategic partnership between Trine and Greenlight Planet sets out to answer the off-grid solar industry’s strong demand for innovation in distribution and financing.Trine makes it easy for people to invest in solar energy where it has the most impact. Innovative companies get the injection of capital they need to create a greener future. Trine investors get a triple return on investment – earn a profit while making social and environmental impact.

Trine investors have injected €16 million into 27 different companies, resulting in an estimated impact of 400,000 people gaining access to electricity with 29,000 tons of CO2 emissions avoided. Investors have been repaid €2 million to date.